Pretium Resources Inc.: More High-Grade Gold Intersected; Valley of the Kings Extended to the East

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 28, 2012) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) ("Pretivm") is pleased to report results from the ongoing drill program at its high-grade gold Brucejack Project in northern British Columbia. Current results include a number of assays grading over 1,000 grams per tonne gold and extend the zone of gold mineralization in the Valley of the Kings by 100 meters to the east. (See Table 1 below for assays.)

Selected highlights from the Valley of the Kings include:

• Hole SU-493 intersected:
  
  
  • 1,751 grams of gold per tonne uncut over 1.19 meters (51.1 ounces gold per ton over 3.9 feet) and
    
    
  • 1,668 grams of gold per tonne uncut over 0.85 meters (48.6 ounces gold per ton over 2.8 feet);
    
    
• Hole SU-468 intersected 1,425 grams of gold per tonne uncut over 0.50 meters (41.6 ounces gold per ton over 1.6 feet);
  
  
• Hole SU-490 intersected 1,350 grams of gold per tonne uncut over 0.50 meters (39.4 ounces gold per ton over 1.6 feet) and
  
  
• Hole SU-498 (previously reported) intersected 3,874 grams of gold per tonne uncut over 0.50 meters (1.6 feet averaging 112.9 ounces of gold per ton).
  
  

The high-grade intercept noted above from hole SU-468 was intersected 11.5 meters southeast and 36.0 meters below the previously-reported bonanza-grade intercept from hole SU-452 grading 41,582 grams per tonne gold uncut over 0.50 meters (see news release dated July 25, 2012).

Hole SU-496, a 100-meter eastern step-out hole, intersected 30.1 grams of gold and 1,760 grams of silver per tonne over 0.60 meters. Hole SU-496 was collared on section 426900E and is along trend with hole SU-458.

Assays over 1,000 grams per tonne gold include the previously-reported hole SU-498, a step-out hole 60 meters west of the Brucejack Fault which includes an intercept grading 3,874 grams per tonne gold uncut over 0.50 meters within a longer interval grading 1,034 grams of gold per tonne uncut over 1.88 meters (see news release dated August 14, 2012).

The Valley of the Kings now extends over 700 meters in length and is open to the east, west, and at depth. An updated plan showing the current extent of the Valley of the Kings from hole SU-498 in the west to hole SU-496 in the east will be posted on our web site, www.pretivm.com.

To view the map that accompanies this press release, please visit: http://media3.marketwire.com/docs/pvg-0828-map.pdf.

Nine drills are now turning at Brucejack, with a continued focus on definition drilling and testing extensions of the Valley of the Kings.

Table 1: Selected Brucejack Project Drill Results, August 2012 (SU-461 to SU-500)(1,4)

Hole No.	Collar Coords.	Dip/ Azimuth		From (meters)	To (meters)	Interval (meters)	Gold (g/t)	Silver (g/t)		Capping(2)
VALLEY OF THE KINGS
SU-461	6257938N 426625E	-50/358		190.00	191.50	1.50	16.65	10.00
				204.27	207.18	2.91	14.01	18.49
			incl	206.68	207.18	0.50	66.60	35.80
				379.30	381.00	1.70	20.70	231.00
SU-462	6258135N 426475E	-50/178		173.64	174.14	0.50	27.20	17.20
				183.05	183.55	0.50	14.90	16.40
				378.80	379.30	0.50	205.00	47.90
SU-463	6257960N 426450E	-45/178		9.50	15.50	6.00	18.31	21.32
			incl	9.50	11.00	1.50	39.50	40.90
			incl	13.42	13.92	0.50	72.50	29.10
SU-464	6257990N 426375E	-45/178		162.00	166.50	4.50	9.32	13.43
			incl	165.00	166.50	1.50	23.40	17.90
SU-465	6257899N 426800E	-65/358		229.50	232.50	3.00	5.19	291.00
SU-466	6258021N 426300E	-50/178		220.50	223.49	2.99	8.27	8.84
SU-467	6258005N 426450E	-50/178		46.08	46.58	0.50	105.50	59.60
SU-468	6257870N 426625E	-65/358		40.00	41.50	1.50	7.48	389.00
				142.50	144.00	1.50	26.90	19.00
				216.25	228.13	11.88	26.38	53.64		1 Au sample cut
			or	216.25	228.13	11.88	65.31	49.55		uncut
			incl	216.25	216.75	0.50	99.30	97.00
			incl	227.63	228.13	0.50	1,425	857.00
				288.00	289.50	1.50	22.90	15.10
SU-469	6258050N 426300E	-50/178		169.05	169.55	0.50	201.00	80.10
				268.51	270.36	1.85	22.90	20.60
SU-470	6258090N 426825E	-68/178		205.24	205.83	0.59	8.82	32.30
				356.00	357.50	1.50	11.50	21.70
SU-471	6258003N 426550E	-48/178		183.00	184.50	1.50	16.30	6.30
SU-472	6257938N 426625E	-45/358		301.00	302.50	1.50	16.80	43.00
SU-473	6258035N 426450E	-50/178		90.50	100.00	9.50	18.45	23.45
			incl	90.50	92.33	1.83	44.80	28.60
			incl	98.50	100.00	1.50	58.50	55.40
				198.99	205.00	6.01	10.86	29.83
			incl	198.99	199.62	0.63	75.60	75.50
SU-474	6258085N 426425E	-50/178		55.50	57.00	1.50	7.87	96.30
				358.16	359.35	1.19	7.58	307.00
SU-475	6258027N 426337E	-60/358		178.50	180.00	1.50	23.40	194.00
				213.50	214.19	0.69	10.15	440.00
				237.84	252.00	14.16	23.06	20.28
			incl	237.84	238.34	0.50	20.50	26.50
			incl	250.50	252.00	1.50	201.00	124.00
SU-476	6258080N 426300E	-50/178		127.85	128.35	0.50	17.50	5.90
				135.07	135.57	0.50	19.75	10.80
				173.70	183.00	9.30	21.44	15.33
			incl	173.70	175.50	1.80	95.30	46.10
			incl	181.50	183.00	1.50	15.10	12.20
SU-477	6257965N 426462E	-45/178		84.00	85.50	1.50	5.63	145.00
SU-479	6257938N 426625E	-53/358		212.00	213.36	1.36	6.96	11.50
				226.50	227.94	1.44	5.93	8.20
SU-480	6258088N 426750E	-50/178		2.44	3.97	1.53	29.50	1,490
				17.50	19.00	1.50	14.70	85.80
				182.50	185.50	3.00	7.92	13.55
SU-481	6258114N 426425E	-50/178		184.75	194.02	9.27	90.23	64.31		1 Au sample cut
			or	184.75	194.02	9.27	127.96	64.31		uncut
			incl	184.75	185.25	0.50	403.00	328.00
			incl	185.25	185.75	0.50	34.90	61.40
			incl	185.75	186.50	0.75	156.50	101.00
			incl	191.49	192.36	0.87	902.00	245.00
			incl	193.02	194.02	1.00	57.60	49.20
SU-482	6257903N 426625E	-50/358		125.11	136.00	10.89	26.48	20.77
			incl	125.11	125.63	0.52	372.00	216.00
			incl	134.50	136.00	1.50	40.80	23.80
				443.50	445.00	1.50	22.80	17.90
SU-484	6257980N 426462E	-45/178		33.35	41.50	8.15	12.14	17.43
			incl	33.35	33.85	0.50	51.40	32.10
			incl	40.00	41.50	1.50	44.90	61.90
SU-485	6257999N 426362E	-50/358		197.32	197.82	0.50	567.00	305.00
				254.67	256.00	1.33	22.00	16.10
				285.26	285.76	0.50	26.30	5.70
SU-486	6258175N 426750E	-50/178		10.36	10.86	0.50	717.00	611.00
				54.85	59.91	5.06	13.63	15.50
			incl	57.97	58.47	0.50	110.50	68.30
				154.50	155.95	1.45	79.50	85.00
				207.00	216.57	9.57	17.89	57.30
			incl	215.93	216.57	0.64	206.00	65.20
				393.00	394.50	1.50	17.40	23.90
SU-489	6258123N 426675E	-52/178		42.86	45.71	2.85	35.10	767.49
				44.29	45.71	1.42	55.30	914.00
SU-490	6258115N 426350E	-45/178		67.23	79.07	11.84	46.85	38.98		2 Au samples cut
			or	67.23	79.07	11.84	90.43	38.98		uncut
			incl	67.23	67.73	0.50	682.00	119.00
			incl	78.07	78.57	0.50	1,350	677.00
			incl	78.57	79.07	0.50	97.10	43.50
				364.48	364.98	0.50	517.00	151.00
SU-491	6257879N 426637E	-55/358		250.50	264.63	14.13	19.61	23.17
				250.50	251.50	1.00	34.40	53.70
				264.13	264.63	0.50	443.00	282.00
SU-493	6257870N 426287E	-60/358		143.91	160.88	16.97	56.75	113.75		2 Au samples cut
			or	143.91	160.88	16.97	150.39	113.75		uncut
			incl	143.91	145.10	1.19	1,751	1250.00		uncut
			incl	152.87	153.37	0.50	700.00	387.00
			incl	160.38	160.88	0.50	206.00	404.00
				258.17	258.81	0.64	128.00	45.90
				298.38	299.23	0.85	1,668	493.00		uncut
SU-495	6258139N 426350E	-45/178		55.12	55.62	0.50	544.00	325.00
				380.34	380.91	0.57	383.00	105.00
SU-496	6257882N 426900E	-68/358		297.80	298.40	0.60	30.10	1760.00
SU-497	6258203N 426675E	-52/178		79.50	82.50	3.00	18.60	10.10
			incl	79.50	81.00	1.50	31.80	10.00
				254.23	254.73	0.50	47.00	28.30
				451.44	451.94	0.50	828.00	511.00
SU-498(3)	6257960N 426223E	-50/360		16.00	17.50	1.50	12.50	11.70
				75.62	77.50	1.88	136.81	403.83		1 Au sample cut
			or	75.62	77.50	1.88	1,034	403.83		uncut
			incl	75.62	76.12	0.50	3,874	1504.60		uncut
SU-499	6257811N 426503E	-90/360		55.50	61.50	6.00	0.62	344.75
SU-500	6258143N 426425E	-50/178		279.50	280.02	0.52	53.50	37.90
				428.45	428.95	0.50	17.60	14.60
MAMMOTH ZONE
SU-483	6257870N 426287E	-50/178		83.60	86.56	2.96	125.73	90.27
			incl	85.00	86.56	1.56	223.00	165.00

(1) True thickness to be determined.

(2) Unless otherwise indicated as uncut, all gold assays over 500 g/t were cut to 500 g/t.

(3) Previously reported.

(4) All samples were submitted for preparation and analysis by ALS Chemex at its facilities in Terrace, B.C. All samples were analyzed using multi-digestion with ICP finish. Samples over 100 ppm silver were reanalyzed using four acid digestion with an ore grade AA finish. Samples over 1,000 ppm silver were fire assayed with a gravimetric finish. Samples with over 10 ppm gold were fire assayed with a gravimetric finish. One in 10 samples was blank, one in 20 was a standard sample, and differing one in 20 samples was a field duplicate one-quarter split core assayed at ALS Chemex in Vancouver, B.C.

Assay results for completed drilling will be reported as they are received over the course of the 2012 drilling season.

Kenneth C. McNaughton, M.A.Sc., P.Eng., Chief Exploration Officer, Pretium Resources Inc. is the Qualified Person (QP) responsible for the Brucejack Project exploration program.

About Pretivm

Pretivm is creating value through gold at its high-grade gold Brucejack Project, located in northern British Columbia. Brucejack hosts a major undeveloped high-grade gold resource and mineralization remains open in all directions. A feasibility study for a high-grade underground mine in Brucejack's Valley of the Kings is underway and expected in early 2013.

(SEDAR filings: Pretium Resources Inc.)

Forward-Looking Statements

This News Release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and United States securities legislation. Forward-looking information may include, but is not limited to, risks related to our planned exploration and development activities, the adequacy of Pretivm's financial resources, the estimation of mineral resources, realization of mineral resource estimates, timing of development of Pretivm's Brucejack Project, costs and timing of future exploration, results of future exploration and drilling, production and processing estimates, capital and operating cost estimates, timelines and similar statements relating to the economic viability of the Brucejack Project, timing and receipt of approvals, consents and permits under applicable legislation, Pretivm's executive compensation approach and practice, and adequacy of financial resources. Wherever possible, words such as "plans", "expects", "projects", "assumes", "budget", "strategy", "scheduled", "estimates", "forecasts", "anticipates", "believes", "intends" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking statements and information. Statements concerning mineral resource estimates may also be deemed to constitute forward-looking information to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be forward-looking information. Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by the forward-looking information, including, without limitation, those risks identified in Pretivm's prospectus supplement to the short form base shelf prospectus dated March 19, 2012 filed on SEDAR at www.sedar.com and in the United States through EDGAR at the SEC's website at www.sec.gov. Forward-looking information is based on the expectations and opinions of Pretivm's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise. We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law. For the reasons set forth above, prospective investors should not place undue reliance on forward-looking information.